Kwara State Government has received a total of N3,516,975,521.40 as
net monthly allocation from the federal allocation for the month of
October.
The amount is minus N681,499,217:53 deductions made at source as
monthly repayment of loans including the bailout funds which is
budget support that the past administration received from the Federal
Government.
According to a statement issued by the Permanent Secretary Ministry of
Finance Benjamin Fatigun, on Friday, the monthly deductions began in
September.
The statement noted that the monthly allocations included
N3:333:607:862,59 statutory revenue allocation (SRA); N859, 606,
843,58 Value Added Tax (VAT); and N5,260,032,85 Exchange Gains.
The statement said a total of N2,689,825,780,50 (two billion, six
hundred and eighty nine million, eight hundred and twenty five
thousand, seven hundred and eighty naira, fifty kobo) also came to the
16 local government areas of the state as allocation for the month.
The tally includes N2,198,740,352,73 SRA; N487,616,079,59 VAT; and
N3,469,348,22 Exchange Gains.
